Top Overnight News China’s economic data comes in ahead of expectations, including Q4 GDP (+5.4% vs. the Street +5%), industrial production (+6.2% vs. the Street +5.4%), and retail sales (+3.7% vs. the Street +3.6%). RTRS A rally in Chinese government debt has sent yields to record lows and they may have further downside as the US trade tensions compound existing economic woes. That risks weighing even more on the yuan. BBG Swap market traders raised their bets to near certainty of a BOJ interest-rate hike next week, climbing from 71% on Wednesday. Almost three quarters of economists surveyed by Bloomberg also predict a hike. BBG Israel said it finalized an agreement with Hamas to pause the war in Gaza, suggesting a ceasefire is on track to begin on Sunday. The cabinet started a meeting to ratify the deal. BBG The Yemen-based Houthis signaled a pause in their attacks on commercial ships in the Red Sea following the Israel-Hamas ceasefire deal. BBG UK retail sales were quite soft in Dec, falling 0.6% M/M (vs. the Street consensus of +0.3%) while Nov was revised lower (from +0.3% to +0.1%). RTRS Trump has already prepared about 100 executive orders in a bid to take action quickly after his inauguration. The president-elect told Senate Republicans that he won’t wait on them to start implementing immigration and trade reforms. BBG President-elect Donald Trump is planning to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration. BBG Canada’s Central Bank will soon announce the end of its quantitative tightening program, deputy governor Toni Gravelle said on Thursday, making it one of the first central banks globally to stop unwinding pandemic-era asset purchases. RTRS